Common use of Fiscal Year; Accounting Principles Clause in Contracts

Fiscal Year; Accounting Principles. The Borrower will not, and will not permit any Subsidiary to, change (a) its current fiscal year or (b) its current accounting principles used in the preparation of financial statements unless such change in accounting principles is required or permitted by GAAP, in each case, other than changes with respect to a Subsidiary made in order to conform to the fiscal year or principles of the Borrower.

Appears in 4 contracts

Samples: Credit Agreement (MPLX Lp), Credit Agreement (Marathon Petroleum Corp), Credit Agreement (Marathon Petroleum Corp)

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Fiscal Year; Accounting Principles. The Borrower and the Parent Guarantor will not, and will not permit any Subsidiary of their Subsidiaries to, change (a) its current fiscal year or (b) its current accounting principles method of keeping records and books of account used in the preparation of financial statements unless such change in accounting principles is required or permitted by GAAP, in each case, other than changes with respect to a Subsidiary made in order to conform to the fiscal year or principles of the Borrower.

Appears in 3 contracts

Samples: Revolving Credit Agreement, Assignment and Assumption (MPLX Lp), Assignment and Assumption (Marathon Petroleum Corp)

Fiscal Year; Accounting Principles. The Borrower will not, and will not permit any Restricted Subsidiary to, change (a) its current fiscal year or (b) its current accounting principles used in the preparation of financial statements unless such change in accounting principles is required or permitted by GAAP, in each case, other than changes with respect to a Restricted Subsidiary made in order to conform to the fiscal year or principles of the Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Andeavor Logistics Lp), Credit Agreement (Andeavor Logistics Lp)

Fiscal Year; Accounting Principles. The Borrower will not, and will not permit any Subsidiary to, change (a) its current fiscal year or (b) its current accounting principles used in the preparation of financial statements unless such change in accounting principles is required or permitted by GAAP, in each case, other than changes with respect to a Subsidiary made in order to conform to the fiscal year or principles of the BorrowerBorrower or changes made in order to conform to the fiscal year of MPC.

Appears in 2 contracts

Samples: Revolving Credit Agreement (MPLX Lp), Revolving Credit Agreement (Marathon Petroleum Corp)

Fiscal Year; Accounting Principles. The Borrower will not, and will not permit any Subsidiary to, change (a) its current fiscal year or (b) its current accounting principles method of keeping records and books of account used in the preparation of financial statements unless such change in accounting principles is required or permitted by GAAP, in each case, other than changes with respect to a Subsidiary made in order to conform to the fiscal year or principles methodology of the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Marathon Petroleum Corp)

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Fiscal Year; Accounting Principles. The Borrower will not, and will not permit any Subsidiary to, change (a) its current fiscal year or (b) its current accounting principles method of keeping records and books of account used in the preparation of financial statements unless such change in accounting principles is required or permitted by GAAP, in each case, other than changes with respect to a Subsidiary made in order to conform to the fiscal year or principles of the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Marathon Petroleum Corp)

Fiscal Year; Accounting Principles. The Borrower will not, and will not permit any Subsidiary of its Subsidiaries to, change (a) its current fiscal year or (b) its current accounting principles method of keeping records and books of account used in the preparation of financial statements unless such change in accounting principles is required or permitted by GAAP, in each case, other than changes with respect to a Subsidiary made in order to conform to the fiscal year or principles of the Borrower.

Appears in 1 contract

Samples: Assignment and Assumption (Marathon Petroleum Corp)

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